Hibob, a HR and employee benefits platform for small to medium-sized businesses, has raised $17.5 million in Series A funding. Leading the round is U.S. VC firm Battery Ventures, with participation from Arbor Ventures, and Fidelity’s Eight Roads Ventures. Existing backer Bessemer Venture Partners also joined the round, which brings total funding for the U.K. and Israel-based startup to $25 million.
Launched last year, Hibob has built what it describes as a cloud-based HR and benefits platform to help businesses manage and engage with their employees. The software includes all of the day-to-day HR admin tools you’d expect, but also places a lot more emphasis on employee engagement, with a bottom up approach to the formation and support of employee ‘clubs’ or interest groups.
This lets employees declare and view each other’s interests and start new groups of their own, which are visible and can then be more formally supported by the business owner or its HR department.
In addition, and important to its business model, Hibob offers a growing marketplace of employee benefits, such as pension enrolment, healthcare and so on. Regards the…